{"id":290950,"date":"2022-08-23T17:15:54","date_gmt":"2022-08-23T21:15:54","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=290950"},"modified":"2022-08-23T17:15:54","modified_gmt":"2022-08-23T21:15:54","slug":"oil-climbs-stocks-stabilize","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/oil-climbs-stocks-stabilize\/","title":{"rendered":"Oil climbs, stocks stabilize"},"content":{"rendered":"<p>Relatively speaking, markets calmed down on Tuesday following Monday&#8217;s rout that saw sharp losses, particularly in tech. The S&amp;P finished -0.22%, the Nasdaq was flat, and the Dow was -0.47%. Oil led gains as WTI continued to surge, rising 3.5% to around $93.50 a barrel.<\/p>\n<p>Natural, the biggest gainers were oil stocks, including <a href=\"https:\/\/stockchase.com\/company\/view\/555\/HAL-N\">Halliburton<\/a> and <a href=\"https:\/\/stockchase.com\/company\/view\/1513\/OXY-N\">Occidental Petroleum<\/a> which soared nearly 7%. <a href=\"https:\/\/stockchase.com\/company\/view\/1464\/FCX-N\">Freeport-McMoRan<\/a> also enjoyed a strong gain, adding 6.46%. In contrast, <a href=\"https:\/\/stockchase.com\/company\/view\/6056\/ZM-Q\">Zoom Video<\/a> released a disappointing quarter and shares plunged 16.54%. That didn&#8217;t help <a href=\"https:\/\/stockchase.com\/company\/view\/4686\/TWTR-N\">Twitter<\/a> which slid 7.35%. Also down was <a href=\"https:\/\/stockchase.com\/company\/view\/2673\/POOL-Q\">Pool<\/a>, closing -3.73% The 10-year yield remained above 3% as Bitcoin rose modestly to $21,500.<\/p>\n<p>Oil&#8217;s rally helped push the TSX by 15 points, but that was not enough to return to 20,000. Materials rallied while consumer staples, real estate and financials lagged. gaining were <a href=\"https:\/\/stockchase.com\/company\/view\/1176\/SU-T\">Suncor<\/a> by 3.69%, <a href=\"https:\/\/stockchase.com\/company\/view\/1571\/CPG-T\">Crescent Point Energy<\/a> at 4.15%, <a href=\"https:\/\/stockchase.com\/company\/view\/1424\/BTE-T\">Baytex<\/a> up 4% and <a href=\"https:\/\/stockchase.com\/company\/view\/2623\/LUN-T\">Lundin Mining<\/a> by 8.37%. In contrast, <a href=\"https:\/\/stockchase.com\/company\/view\/5891\/BHC-T\">Bausch Health<\/a> closed -6.46% and <a href=\"https:\/\/stockchase.com\/company\/view\/5104\/SHOP-N\">Shopify<\/a> -2.75%. Canadian banks began reporting earnings, but the <a href=\"https:\/\/stockchase.com\/company\/view\/169\/BNS-T\">Bank of Nova Scotia<\/a> delivered a disappointing report ad sank 5.25%.<\/p>\n<p>&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/555\/HAL-N\">Halliburton Co (HAL-N)<\/a> +7%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1513\/OXY-N\">Occidental Petroleum Corp (OXY-N)<\/a> +7%<br \/>\n&#x26cf; <a href=\"https:\/\/stockchase.com\/company\/view\/1464\/FCX-N\">Freeport McMoran Copper &amp; Gold (FCX-N)<\/a> +6.46%<br \/>\n&#x1f4f9; <a href=\"https:\/\/stockchase.com\/company\/view\/6056\/ZM-Q\">Zoom Video Communications Inc. (ZM-Q)<\/a> -16.54%<br \/>\n&#x1f426; <a href=\"https:\/\/stockchase.com\/company\/view\/4686\/TWTR-N\">Twitter, Inc (TWTR-N)<\/a> -7.35%<br \/>\n&#x1f69a; <a href=\"https:\/\/stockchase.com\/company\/view\/2673\/POOL-Q\">Pool Corporation (POOL-Q)<\/a> -3.73%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1176\/SU-T\">Suncor Energy Inc (SU-T)<\/a> +3.69%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1571\/CPG-T\">Crescent Point Energy Corp (CPG-T)<\/a> +4.15%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1424\/BTE-T\">Baytex Energy Corp (BTE-T)<\/a> +4%<br \/>\n&#x26cf; <a href=\"https:\/\/stockchase.com\/company\/view\/2623\/LUN-T\">Lundin Mining Corp. (LUN-T)<\/a> +8.37%<br \/>\n&#x1f468;&#x200d;&#x2695;&#xfe0f; <a href=\"https:\/\/stockchase.com\/company\/view\/5891\/BHC-T\">Bausch Health Companies Inc. (BHC-T)<\/a> -6.46%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/company\/view\/5104\/SHOP-N\">Shopify Inc (SHOP-N)<\/a> -2.75%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/169\/BNS-T\">Bank of Nova Scotia (BNS-T)<\/a> -5.25%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relatively speaking, markets calmed down on Tuesday following Monday&#8217;s rout that saw sharp losses, particularly in tech. The S&amp;P finished -0.22%, the Nasdaq was flat, and the Dow was -0.47%. Oil led gains as WTI continued to surge, rising 3.5% [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-290950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/290950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=290950"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/290950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=290950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=290950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=290950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}